On September 11, 2012, Decree No. 1638/2012 (the "Decree") was published in the Official Gazette, providing a new regulation of Section 22 of the General Environment Law No. 25675 ("LGA," after its acronym in Spanish) on environmental insurance.

As part of the regulatory framework related to the reinsurance business in Argentina, regulated by Resolution No 35.615 of the Superintendency of Insurance of Argentina (Superintendencia de Seguros de la Nación - "SSN"), effective Resolution SSN No 36.332 establishes the minimum requirements to be fulfilled by insurance companies intending to apply for an exemption so as to be authorized to execute certain reinsurance agreements duly specified with foreign reinsurance companies performing operat

On December 23, 2013, the new Resolution No. 300 of the National Council of Private Insurance (Conselho Nacional de Seguros Privados - "CNSP") was published by the Brazilian insurance and reinsurance agency, the Superintendence of Private Insurance (Superintendência de Seguros Privados - "SUSEP").

This memorandum addresses Decree No. 7.976 of April 1, 2013, which authorizes the incorporation by Brazil′s executive branch of the Agência Brasileira Gestora de Fundos Garantidores e Garantias S.A., a state-owned company to be organized as a corporation and linked to the Ministry of Finance, as described in our memorandum dated June 1, 2012.

On September 11, 2012, Decree No. 1638/2012 (the "Decree") was published in the Official Gazette, providing a new regulation of Section 22 of the General Environment Law No. 25675 ("LGA," after its acronym in Spanish) on environmental insurance.

Since early this year the Argentinean Superintendence of Insurance (the "ASI") has been
preparing regulations, which took everyone by surprise, and which will change Argentinean
business for non-Argentinean reinsurers.

As part of the regulatory framework related to the reinsurance business in Argentina, regulated by Resolution No 35.615 of the Superintendency of Insurance of Argentina (Superintendencia de Seguros de la Nación - "SSN"), effective Resolution SSN No 36.332 establishes the minimum requirements to be fulfilled by insurance companies intending to apply for an exemption so as to be authorized to execute certain reinsurance agreements duly specified with foreign reinsurance companies performing operat

On December 26, 2006, the National Private Insurance Council ("Conselho Nacional de Seguros Privados" – CNSP), the government agency responsible for insurance and private pension plan policies in Brazil, issued CNSP Resolution no. 155, establishing more rigorous rules on the minimum capital requirements companies must meet to be authorized to operate as insurers.

Although all of the Latin American jurisdictions had notable regulatory and market developments in 2008, Brazil stands out as particularly significant given the size of the market involved and the fundamental nature of the developments seen there in the past year.

On December 23, 2013, the new Resolution No. 300 of the National Council of Private Insurance (Conselho Nacional de Seguros Privados - "CNSP") was published by the Brazilian insurance and reinsurance agency, the Superintendence of Private Insurance (Superintendência de Seguros Privados - "SUSEP").

In August 2008, Costa Rican President Dr. Oscar Arias Sanchez signed into law Costa Rica’s new Ley Reguladora del Mercado de Seguros, thereby ending the Instituto Nacional de Seguros’ (INS) more than eighty-year-old monopoly over the country’s insurance industry.

The main purpose of the Bill is to (i) regulate mortgage credit insurance (seguro de crédito a la vivienda) and financial guarantee insurance (seguro de garantía financiera); (ii) transform the legal framework currently applicable to the participation of foreign governments and foreign official entities in the capital stock of Mexican insurance companies.

Venezuela remains an enticing and daunting jurisdiction in 2010, as the government continues to intervene in the financial services and other major industries and the insurance industry faces the prospect of a new comprehensive insurance law.